The global market for proton exchange membrane fuel cell (PEMFC) membrane electrode assemblies (MEA) reached $340 million and $460 million in 2010 and 2014, respectively. This market is expected to reach $534 million by 2015 and $1.9 billion by 2020, registering a compound annual growth rate (CAGR) of 29.4% from 2015 to 2020.

This report provides:

-An overview of the global market for materials for proton exchange membranes and membrane electrode assemblies for PEM fuel cells.-Analyses of global market trends, with data from 2010 and 2014, estimates for 2015, and projections of CAGRs through 2020.-Examination of bipolar plates for PEMFCs, including direct methanol fuel cells (DMFCs); this includes the gas diffusion layer (GDL), the catalyst ink/electrode, the membrane itself, and the bipolar plate.-Discussion covering the history and advancing technology of these components, the companies involved in these developments, the current and projected incentives, and the projected markets for such technologies.-Presentations of consensus, optimistic, and pessimistic scenarios.-Patent analysis as well as discussion covering power sources and vehicle components, emphasizing intellectual property issues.-Comprehensive company profiles of major players in the field.

Polymer membranes that are the electrolyte, and therefore the heart of the fuel cell, receive extra attention. The report also examines the history and advancing technology of these components, the companies involved in these developments, the current and projected incentives, and the projected markets for such technologies.

One of several fuel cell designs, the proton exchange membrane (PEM) fuel cell is appropriate as a power source for transportation, stationary distributive power and small-scale applications such as portable electronic products. Applications for all types of fuel cells continue to evolve. In the process of this evolution, the different proton exchange membrane materials and membrane electrode assemblies (MEAs) will evolve and be adapted to more specific uses.

Identifying research for better membranes that have greater tolerances to poisoning, greater durability and lower costs is a major objective of this report. The U.S., Japanese, Chinese and European governments are pouring billions of dollars of loans, subsidies and outright grants into fuel cell research and development.

These investments are beginning to pay off, and there are even more examples of commercialization, including in stationary markets. Military markets are well established and automotive markets are beginning to grow. Wider use of portable product PEMFCs could be next.

REASONS FOR DOING THE STUDYHydrogen feed fuel cells are based on the electrochemical reaction between hydrogen and oxygen. This electrochemical process does not pollute the environment with hydrocarbons, particulates or any sulfur or nitrogen oxides.

With this in mind, fuel cells are viewed as potential candidates for vehicle power, auxiliary power, mobile power, stationary distributed or central power, and portable product power. PEMFCs have a part in securing energy security for the country, improving the environment, greatly reducing urban pollution and creating jobs in manufacturing as the technology advances. They can also provide a cost-effective and performance-driven rival for advanced batteries.

The study identifies the opportunities and technological requirements of the PEMFC and the MEA and the bipolar plates for the PEMFC. When several units of the membrane electrode assembly are capped off with a bipolar plate and properly assembled, the arrangement is referred to as a stack.

This BCC Research report analyzes components of the PEMFC, a technology offering the promise of greatly reduced environmental impact and excellent performance, price and efficiency advantages. Recent historic developments and approaches are described along with recent commercial developments and PEMFC state of the art. Questions to be answered include determining a timetable for PEMFC commercialization, as well as what types of membranes and membrane assemblies are needed to make this possible.

INTENDED AUDIENCEThis report is intended to provide a unique analysis of the broadly defined global PEM market and will be of interest to a variety of current and potential fuel cell users as well as fuel cell makers and component and membrane makers. This report also can provide valuable information in terms of assessing investments in particular technologies and, therefore, should benefit investors directly or indirectly. The vital importance of platinum as a catalyst for PEMFCs is addressed. Anyone interested in the precious metals market, in nanomaterials or in alternative catalysts will find the evaluations of the technology of interest. BCC Research wishes to thank those companies, government agencies and university researchers that contributed information for this report.

This analysis is designed to be as comprehensive as possible. This document is intended to be of value to a broad audience of business, technical, investment and regulatory professionals. It is an information source for an emerging industry as well as a reference on a developing technology. It presents analysis and forward-thinking evaluations that will be of advantage to manufacturers, material suppliers, and to local, state and federal government entities. Corporate planners will benefit from the reportís evaluation of the demands for proton exchange membranes, membrane electrode assemblies, and platinum catalyst and the companies involved in their development and manufacture. Others may find the broad discussions of energy policy, environmental impact, platinum supply and chemical synthesis of membranes to be of considerable value in understanding the opportunities and problems facing the fuel cell industry in the near- to mid-term.

SCOPE OF REPORTThe fuel cell industry in various forms has been developing for decades. There are notable examples of fuel cell successes. The PEMFC is emerging as a winner in many of the primary categories that fuel cells can satisfy. Existing membranes and assemblies still have room for improvement. PEMFC development and commercialization is anever-changing process. This BCC Research analysis examines the market and technology for the materials and technology of proton exchange membranes and electrode assemblies and for bipolar plates for PEMFCs, including direct methanol fuel cells (DMFCs). This includes the gas diffusion layer (GDL), the catalyst ink or electrode, the membrane itself and the bipolar plate. Ancillary stack assembly materials such as bolts, gaskets, tie-outs, and final assembly and packaging costs are excluded.

This report details the actuals for 2010 and 2014, forecasts for 2015, and compound annual growth rate (CAGR) projections for 2020. When appropriate, consensus, optimistic and pessimistic scenarios are presented. A patent analysis and discussion of power sources and vehicle components describes where research is performed and emphasizes intellectual property issues. An extensive set of company profiles is provided.

METHODOLOGYAn in-depth analysis of technical and business literature and published dissertations, a review of the history of the technologies involved, interviews with industry experts, company representatives, federal government researchers and university scientists provide an assessment of the outlook for the next generation of PEMFCs and membrane electrode assemblies. Other information sources include product literature from suppliers, scientific references, conferences and patent searches.

Both primary and secondary research methodologies were used in preparing this report, which is based on interviews with commercial and government sources, literature reviews and patent examinations. Throughout the report, past market data is expressed in current U.S. dollars, and estimates and projections are in constant 2015 U.S. dollars. Most market summaries are based on a consensus scenario for wholesale (producer) prices that assumes no unanticipated technical advances and no unexpected legislation. When appropriate, pessimistic, consensus and optimistic market scenarios characterize several developmental markets. Totals are rounded to the nearest million dollars. When appropriate, information from previously published sources is identified to allow a more detailed examination by clients.

INFORMATION SOURCESMarket assumptions used in this report include updates of material from an earlier version of this analysis, as well as from BCC Research studies, which were also prepared by this author. The author also edited the BCC Research newsletter, Fuel Cell Industry Report, which provided a uniquely valuable source for this market. Although many segments of the industry are well documented, much of this information is based on estimates, not hard facts. The distinction between these estimates and facts can be vital, and wherever possible, sources are identified.

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